Cost of Living Comparison Between Akranes and Selfoss Cost of Living Comparison Between Akranes and Selfoss

Monthly Cost of Living

Monthly costs for one person with rent: $3,766 in Akranes versus $3,620 in Selfoss.

Estimated couple costs with rent: $5,946 in Akranes versus $2,533 in Selfoss.

Monthly costs for a family of three with rent: $8,125 in Akranes versus $1,446 in Selfoss.

Living in Akranes is roughly 4% more expensive than in Selfoss, driven mainly by Eating Out.

Both cities are pricier than the global median: Akranes 173% above, Selfoss 162% above.

Meal at Budget Restaurant

$30.03 ISK 3,617

Three-Course Dinner for Two, Mid-Range

$134 ISK 16.2K

Fast Food Meal (McDonalds, etc)

$26.46 ISK 3,187

$20.86 ISK 2,513

26.85%

Cappuccino

$6.10 ISK 735

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.33 ISK 401

Water (0.33 liter bottle)

$2.50 ISK 301

Local Beer (0.5 liter draught)

$10.65 ISK 1,283

$12.30 ISK 1,482

-13.41%

Imported Beer (0.33 liter bottle)

$8.11 ISK 977

Milk (1 liter)

$2.03 ISK 245

$1.73 ISK 208

17.34%

White Bread (500g)

$2.05 ISK 246

$7.67 ISK 924

-73.27%

Rice (white) (1kg)

$3.52 ISK 424

$4.62 ISK 557

-23.81%

Eggs

$6.29 ISK 757

$6.66 ISK 802

-5.56%

Local Cheese (1kg)

$20.48 ISK 2,467

$17.37 ISK 2,093

17.90%

Chicken Fillets (1kg)

$24.90 ISK 2,999

$21.79 ISK 2,625

14.27%

Beef Round Steak (1kg)

$41.58 ISK 5,009

$33.42 ISK 4,025

24.42%

Apples (1kg)

$3.42 ISK 412

$2.72 ISK 328

25.74%

Banana (1kg)

$2.91 ISK 350

$2.71 ISK 327

7.38%

Oranges (1kg)

$3.18 ISK 383

$2.64 ISK 318

20.45%

Tomato (1kg)

$5.03 ISK 606

$7.16 ISK 863

-29.75%

Potato (1kg)

$3.99 ISK 480

$3.15 ISK 380

26.67%

Onion (1kg)

$1.72 ISK 207

$2.18 ISK 263

-21.10%

Lettuce (1 head)

$3.69 ISK 445

$3.67 ISK 442

0.54%

Water (1.5 liter bottle)

$1.78 ISK 215

$1.35 ISK 163

31.85%

Cigarettes 20 Pack (Marlboro, Camel)

$13.94 ISK 1,680

$15.90 ISK 1,915

-12.33%

Wine (Bottle)

$23.89 ISK 2,878

Local Beer (0.5 liter bottle)

$2.89 ISK 348

Imported Beer (0.33 liter bottle)

$2.01 ISK 242

$1.12 ISK 135

79.46%

One-way Ticket (Public Transport)

$3.62 ISK 436

Public Transport Monthly Pass (Regular Price)

$74.9 ISK 9,027

Taxi Start (Normal Tariff)

$6.96 ISK 838

Taxi (Normal Tariff) (1km)

$1.26 ISK 152

Taxi 1hour Waiting (Normal Tariff)

$75.0 ISK 9,037

Gasoline (1 liter)

$1.97 ISK 237

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$52.1K ISK 6.3M

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$55.2K ISK 6.6M

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$87.8 ISK 10.6K

SIM Card Monthly Plan (Calls and 10GB+ Data)

$33.25 ISK 4,005

Internet (50+ Mbps, Unlimited Data)

$83.5 ISK 10.1K

Gym Membership (Monthly)

$102 ISK 12.2K

Cinema Ticket

$19.75 ISK 2,379

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$1,214 ISK 146.2K

International Primary School, 1 Child (Yearly)

$30.6K ISK 3.7M

Jeans (Levis 501 Or Similar)

$160 ISK 19.3K

Summer Dress (H&M, Zara, etc)

$65.9 ISK 7,933

Sport Shoes (Adidas, Nike)

$180 ISK 21.7K

Men's Leather Business Shoes

$249 ISK 29.9K

1-bedroom Apartment, City Center (Monthly)

$3,035 ISK 365.5K

1-bedroom Apartment, Outside City Center (Monthly)

$1,907 ISK 229.7K

$2,850 ISK 343.3K

-33.10%

3-bedroom Apartment, City Center (Monthly)

$4,989 ISK 600.9K

3-bedroom Apartment, Outside City Center (Monthly)

$3,683 ISK 443.6K

Average Monthly Net Salary (After Tax)

$5,858 ISK 705.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akranes: September 6, 2026

Last update for Selfoss: September 6, 2026

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Akranes vs Selfoss: Cost of Living - Frequently Asked Questions

Selfoss wins on cost – living expenses run 4% lower than in Akranes. Housing and daily spending are where you'll feel the difference most, making Selfoss the obvious pick if budget is a priority.

You'd need roughly $5,649 in Akranes and $5,430 in Selfoss to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 11% higher in Akranes. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $3,766 per month in Akranes versus $3,620 in Selfoss – a 4% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,620 in Selfoss versus $3,766 in Akranes, a $3,000 budget is realistic in Selfoss but tight or insufficient in Akranes. The gap between the two cities makes Selfoss the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Akranes and Selfoss are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Selfoss gentler on the wallet – expenses run 4% less than in Akranes. Beyond cost, consider language, visa policies, and how big the international community is in each city.